Exact Sciences Corporation $EXAS is Thompson Investment Management Inc.'s 8th Largest Position

Key Points

• Thompson Investment Management Inc. reduced its stake in Exact Sciences Corporation by 4.9% in Q2, now holding approximately 1.8% of its investment portfolio in the company.
• Exact Sciences recently reported an EPS of $0.22, outperforming the consensus estimate and showing a 16% year-over-year revenue growth.
• Analysts maintain a consensus rating of "Moderate Buy" for Exact Sciences with a target price averaging $69.19, while some ratings have ranged from "Strong Buy" to "Sell."

Thompson Investment Management Inc. trimmed its holdings in shares of Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 4.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 239,658 shares of the medical research company's stock after selling 12,297 shares during the quarter. Exact Sciences makes up approximately 1.8% of Thompson Investment Management Inc.'s investment portfolio, making the stock its 8th largest position. Thompson Investment Management Inc. owned approximately 0.13% of Exact Sciences worth $12,735,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Merit Financial Group LLC boosted its holdings in Exact Sciences by 110.0% in the 1st quarter. Merit Financial Group LLC now owns 8,799 shares of the medical research company's stock worth $381,000 after buying an additional 4,609 shares during the last quarter. Park Avenue Securities LLC boosted its position in shares of Exact Sciences by 6.1% during the 1st quarter. Park Avenue Securities LLC now owns 25,335 shares of the medical research company's stock worth $1,097,000 after purchasing an additional 1,449 shares during the period. Pallas Capital Advisors LLC purchased a new stake in Exact Sciences during the first quarter worth about $368,000. GAMMA Investing LLC boosted its holdings in Exact Sciences by 15.5% in the first quarter. GAMMA Investing LLC now owns 4,243 shares of the medical research company's stock valued at $184,000 after purchasing an additional 569 shares during the period. Finally, Integrated Advisors Network LLC increased its position in shares of Exact Sciences by 5.7% in the 1st quarter. Integrated Advisors Network LLC now owns 7,036 shares of the medical research company's stock valued at $305,000 after purchasing an additional 379 shares during the last quarter. 88.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EXAS has been the subject of several research analyst reports. Piper Sandler upped their target price on shares of Exact Sciences from $60.00 to $70.00 and gave the company an "overweight" rating in a report on Wednesday. BTIG Research lowered their target price on shares of Exact Sciences from $65.00 to $60.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. Evercore ISI raised their price objective on Exact Sciences from $64.00 to $68.00 and gave the stock an "outperform" rating in a report on Tuesday. Craig Hallum raised their price objective on Exact Sciences from $65.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday, September 11th. Finally, UBS Group dropped their price objective on Exact Sciences from $61.00 to $53.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Exact Sciences presently has an average rating of "Moderate Buy" and a consensus price target of $69.19.

Exact Sciences Trading Up 0.2%

Shares of EXAS stock opened at $59.46 on Friday. The company has a current ratio of 2.89, a quick ratio of 2.56 and a debt-to-equity ratio of 0.94. The business's 50 day moving average is $50.47 and its two-hundred day moving average is $50.41. The company has a market capitalization of $11.26 billion, a P/E ratio of -10.95, a price-to-earnings-growth ratio of 5.48 and a beta of 1.24. Exact Sciences Corporation has a twelve month low of $38.81 and a twelve month high of $72.83.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last issued its earnings results on Wednesday, August 6th. The medical research company reported $0.22 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.24. Exact Sciences had a negative net margin of 34.19% and a negative return on equity of 1.75%. The company had revenue of $811.09 million for the quarter, compared to analyst estimates of $774.43 million. During the same period in the previous year, the firm earned ($0.09) EPS. The business's revenue was up 16.0% on a year-over-year basis. Equities analysts forecast that Exact Sciences Corporation will post -0.58 EPS for the current year.

Insider Activity

In other news, Director James Edward Doyle sold 1,485 shares of Exact Sciences stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $42.02, for a total transaction of $62,399.70. Following the completion of the transaction, the director owned 59,962 shares of the company's stock, valued at $2,519,603.24. The trade was a 2.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.20% of the stock is owned by company insiders.

About Exact Sciences

Exact Sciences Corporation provides cancer screening and diagnostic test products in the United States and internationally. The company offers Cologuard, a non-invasive stool-based DNA screening test to detect DNA and hemoglobin biomarkers associated with colorectal cancer and pre-cancer. It also provides Oncotype DX Breast Recurrence Score Test; Oncotype DX Breast DCIS Score Test; Oncotype DX Colon Recurrence Score Test; OncoExTra Test for tumor profiling for patients with advanced, metastatic, refractory, relapsed, or recurrent cancer; and Covid-19 testing services.

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